Bright Health, a Minneapolis-based consumer-driven healthcare company, raised $160m in Series B funding.
The round was led by Greenspring Associates with participation from new investors Greycroft Partners, Redpoint Ventures and Cross Creek Advisors and existing lead investor New Enterprise Associates (NEA), as well as Bessemer Venture Partners and Flare Capital Partners.
The company will use the funds to accelerate growth.
Co-founded by Bob Sheehy, chief executive officer, Kyle Rolfing, and Tom Valdivia, MD, MS, Bright Health delivers a connected healthcare experience via partnerships with health systems, affordable health insurance plans and technology.
The company already entered the Colorado market for the 2017 plan year with health insurance plans offered directly to consumers, via broker partners, and through public and private health insurance exchanges. Additional markets, Care Partnerships, and Medicare Advantage Plans are planned for 2018 and beyond.
Bright Health also has offices in New York, Denver and Austin, Texas.